5. Deeming of loan and interest under }buy back~ contracts
In the case of a pawnbroker receiving goods under a contract for sale where the seller has a right to buy back the goods, then for the purposes of this Act ¾
(a) the price at which the goods are to be sold under the contract is to be taken to be the amount lent; and
(b) the difference between the amount lent and the price at which the goods may be bought back is to be taken to be the interest payable.